The United Arab Emirates (UAE) has announced that it will withdraw from the Organisation of the Petroleum Exporting Countries (Opec) on 1 May 2026. For Opec, this means losing the world's third-largest oil producer. No longer bound by the cartel's agreements, UAE will be able to massively ramp up production. Commentators examine the implications for oil prices and the balance of power among the major oil-producing nations.
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